Nigerian companies are on course to pay some of the largest corporate taxes in the country’s history, according to newly reviewed financial data from Nairametrics.
Figures from 30 listed firms on the Nigerian Exchange, excluding banks and insurers, show tax accruals of more than N1 trillion in the first half of 2025 — already surpassing the entire 2024 total of N664 billion.
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Government projections under the medium-term expenditure framework estimate corporate tax receipts at N5.66 trillion in 2025 and N6.6 trillion the following year, driven by devaluation effects and tighter tax enforcement.
Manufacturers, telecoms, oil and gas, and consumer goods firms are expected to bear the heaviest burden, following a rebound from last year’s currency shocks, rising energy costs, and higher interest rates. Corporate profits hit N2.86 trillion in the first half of 2025, nearly triple 2024 levels.
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